Albert Dweck Refinances $3.1M Multifamily Property In Brooklyn With Brad Domenico @progress.capital
54 Cumberland Street, Brooklyn
$3,100,000
$521/SF
Building Size
5,940 SF
Asset Type
MultiFamily
Closing
Feb 21, 2019
AI
The multifamily property located at 54 Cumberland St in Brooklyn was recently refinanced for a loan amount of $3,100,000. The transaction took place on February 22, 2019, with the landlord, Albert Dweck, representing Duke Properties. Jay Shah from Metropolitan Bank provided the loan for the refinancing. The deal was facilitated by Brad Domenico from Progress Capital.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $3,100,000
- Address: 54 Cumberland St, Brooklyn
Albert Dweck, the landlord and representative of Duke Properties, successfully secured the loan through Jay Shah at Metropolitan Bank for the refinancing of the multifamily property. Brad Domenico, a broker from Progress Capital, assisted in facilitating the deal.
Players
New York MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.12%
Cash-on-Cash
-1.46%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93